 HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received at his office, The Rt Hon. Jean Chretien former Canadian Prime Minister on Sunday, 24th January, 2010.
The meeting began as Prince Alwaleed cordially received Mr. Chretien who thanked HRH for his reception. During the meeting the two discussed a number of economic and investment issues, including the Prince’s investments in Canada through Kingdom Holding. The Company is the largest investor in Canada through Four Seasons Hotels and Resorts and Fairmont Raffles Hotels International (FRHI). Moreover, the two discussed the Prince’s recent trip to Canada.
Furthermore, the former PM said that his government warmly welcomes HRH to further invest in Canada, and explore investment opportunities there. Mr. Chretien also expressed his hope that His Highness’s visit will further strengthen economic bi-lateral relations between Saudi Arabia and Canada.
Four Seasons in which Kingdom Holding holds a 47.5% stake, is co-owned by Cascade that also holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp. The Four Seasons US$ 3.8 billion acquisition deal by Prince Alwaleed and Bill Gates with Isadore Sharp was made in 2007.
In 2006, Kingdom and Colony completed a $5.5 billion Acquisition of Fairmont Hotels & Resorts which was combined with the Raffles Hotels Group. Kingdom Holding, holds a 58.1% controlling interest in Fairmont Raffles Hotels International (FRHI).
In addition, Prince Alwaleed’s investment in the banking sector in Canada through Kingdom Holding is through Citigroup.
Mr. Chretien was accompanied by a delegation that included the Hon. Brian Tobin, Mr Charles Sirois, Chairman, Canadian Imperial Bank of Commerce (CIBC), Mr. Kip Daechsel, Senior Corporate Lawyer and Partner, Heenan Blaiki LLP and HB Global Consultants, Mr. Bruce Hartley, Mr. Chretien’s Chief of Staff and Mr. Bruce Johnson, Heenan Blaikie LLP. The meeting was also attended by Ms. Heba Fatani, Executive Manager of the Corporate Communications Department at KHC and Mr. Fahad Al Ofy, Executive Assistant to HRH the Chairman.
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